MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs (NYSEARCA:NRGD) Sees Significant Increase in Short Interest

MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs (NYSEARCA:NRGD) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 25,177 shares, an increase of 199.4% from the June 30th total of 8,410 shares. Currently, 83.9% of the shares of the stock are sold short. Based on an average trading volume of 14,045 shares, the days-to-cover ratio is currently 1.8 days.

MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs Price Performance

NYSEARCA NRGD traded up $0.95 during trading hours on Monday, reaching $20.61. 26,225 shares of the stock traded hands, compared to its average volume of 20,434. The stock has a 50 day simple moving average of $26.61 and a two-hundred day simple moving average of $35.85. MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs has a 1 year low of $18.36 and a 1 year high of $106.12. The company has a market cap of $618,450.00, a price-to-earnings ratio of 2.73 and a beta of 0.88.

About MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs

The MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) is an exchange-traded fund that is based on the Solactive MicroSectors U.S. Big Oil index. The fund tracks three times the inverse of the performance of an equal-weighted index of U.S. Oil & Gas Companies. NRGD was launched on Apr 12, 2019 and is issued by REX Microsectors.